Property

The Mint

Location

Rahway, NJ

Size

225 Units

Status

Currently Marketing

Type

Sale

Property

The Mint

Location

Rahway, NJ

Size

176,505 SF

Status

Currently Marketing

Type

Sale

The Mint

BlueGate Partners, LLC has been retained on an exclusive basis to arrange the sale of The Mint (the “Property”), a transit oriented, 225-unit luxury apartment community located in Rahway, Union County, New Jersey, one block (0.10 miles) from the Rahway NJ Transit train station. Built in two phases and with a unit mix that includes studio, one-bedroom, and two-bedroom units, the Project’s first building, which consists of 116 units, is currently at 98% occupancy. The second building consists of 109 units; it was delivered in March 2023, and based on its brisk leasing pace it is expected to be fully leased by June 2023. The Property benefits from a very favorable 30-year PILOT, without any affordability requirement. In addition to 225 apartment homes, the Property contains 5,757 SF of ground-floor commercial space. Located in Rahway’s revitalized downtown Arts District, The Mint is surrounded by fine dining, an eclectic retail community, art galleries, entertainment venues, and a strong essence of community. In addition to the rail transportation, the property benefits from excellent access to New Jersey’s highway systems, including the New Jersey Turnpike (I-95), the Garden State Parkway, Routes 1 & 9 and Route 287. Both business and leisure travelers will also enjoy proximity to Amtrak (~4 miles), Newark Liberty international Airport (~9 miles) and the Jersey Shore (~30 miles).

 

INVESTMENT HIGHLIGHTS

  • Newly Completed Construction
  • Exceptional PILOT
  • 100% Market Rate
  • Excellent Property Amenities
  • Prime Location Within the Northern NJ Employment Triangle
  • Adjacent to Merck’s North American Headquarters
  • Superb Access for Commuting & Travel (Planes, Trains, and Automobiles)
  • Multiple Shopping and Dining Options

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